BENGALURU: The Indian guardian of a TikTok copycat has raised more than $100 million from merchants collectively with Alphabet Inc’s Google and Microsoft , months after the Chinese-owned short-video app was as soon as banned within the nation.
The app, Josh, is indubitably one of so a lot of residence-grown short-video platforms which bear sprung up since the authorities blocked the wildly standard TikTok in June amidst a border disaster with China, attracting world investor interest in capabilities filling the outlet.
Bengaluru-essentially based VerSe Innovation, which owns Josh, is valued at more than $1 billion following the funding, it talked about in a observation.
AlphaWave, a component of world asset manager Falcon Edge Capital, moreover invested in VerSe, as did present merchants Sofina Community and Lupa Systems, VerSe talked about, adding that it would exercise the funds to scale up Josh.
VerSe moreover owns news and snarl platform Dailyhunt, which affords snarl in more than one Indian languages.
In September, the snarl-sharing platform ShareChat raised $40 million from merchants collectively with Twitter Inc and Lightspeed Ventures, so that it’s good to power growth for its unique short-video app Moj.
Both Josh and Moj were installed on more than 50 million devices each, in step with recordsdata from Google’s Play Retailer.
Individually on Tuesday, advert know-how company InMobi’s Ogle – which runs an eponymous lock-show cowl snarl app and short-video platform Roposo – talked about it had raised $145 million from Google and present investor Mithril Capital.
Google attach $10 billion earlier this year for digital investments in India.